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Telecom stock halted pending announcement amid reports of AAPT interest

Thursday 15th April 2010

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Telecom’s shares were halted pending a “material announcement.” 

The shares edged up 0.5% to $2.25 before the halt on the NZX today and have declined 13% in the past three months amid repeated outages on its XT network and the departure of three key executives. 

The Australian Financial Review reported this week that a private equity firm has expressed interest in buying the company’s AAPT unit in Australia and Goldman Sachs JBWere has been "filtering” preliminary approaches. Telecom called the report speculation. 

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